Ipreo Holdings launches $35 million loan at Libor plus 650 bps

By Sara Rosenberg

New York, July 12 - Ipreo Holdings LLC held a conference call on Thursday to launch a $35 million covenant-light incremental term loan that is talked at Libor plus 650 basis points with a 1.5% Libor floor and an original issue discount of 98, according to a market source.

The loan has 101 soft call protection for six months, the source said.

Commitments are due on July 19.

RBC Capital Markets LLC is the lead bank on the deal.

Proceeds will be used to refinance mezzanine debt.

The loan will not be fungible with the existing first-lien term loan that carries the same pricing.

To allow for the new debt, the existing credit facility needs to be amended.

Lenders are being offered a 25 bps amendment fee, the source added.

Ipreo is a New York-based capital markets and corporate analytics firm.

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